China’s No. 2 search provider Qihoo 360 beat consensus views for Q3 late Monday on strong growth in online advertising and Internet game sales. Qihoo also guided Q4 above Wall Street expectations, sending the company’s stock up sharply on Tuesday. Qihoo 360 (QIHU) was up more than 9% near 76 in early afternoon trading on the stock market today. Qihoo 360 guided to Q4 revenue of $410 million to $415 million, up 85% to 87% year over year and beating
Most Chinese Internet companies have already released quarterly earnings results, but two that have yet to report shouldn’t be forgotten: Qihoo and E-Commerce China Dangdang. Qihoo (QIHU) is projected to grow earnings per share by 30% when it releases its results after the close on Monday. That EPS growth would be an acceleration from the company’s 25% growth last quarter but still a slowdown from its four consecutive quarters of triple-digit
China’s No. 2 search provider, Qihoo 360 Technology (QIHU), announced that its board had authorized the repurchase of up to $200 million of the company’s shares, news that boosted the company’s stock on Thursday. The share repurchases will be funded with Qihoo’s existing cash reserves and ongoing cash flow, the company said in a statement. Qihoo added that it had raised nearly $1 billion through a convertible bond offering in August and had about